Television

News Corp to acquire IGN Entertainment for $650 million

MUMBAI: News Corporation announced today that it had signed a definitive agreement to acquire IGN Entertainment, Inc, a leading community-based Internet media and services company for video games and other forms of digital entertainment, for approximately $650 million in cash.

IGN and its network of sites will become part of News Corporation's Fox Interactive Media unit.

 

 

With the addition of IGN, Intermix and Scout Media (both the latter two deals are in the process of being closed) to the existing Fox-branded sites, News Corp's asserts that its US web traffic will increase to nearly 70 million unique monthly users and more than 12 billion page impressions per month. The combined sites will also provide a powerful cross-promotional opportunity for Fox's television and film content and enable the company to more efficiently introduce new products and services using its enhanced web presence.

The IGN transaction is expected to close in the fourth quarter of calendar 2005. IGN chief executive Mark Jung will continue in his role following the completion of the acquisition. Jung will report to Fox Interactive Media president Ross Levinsohn.

 

 

IGN's major video game-related properties include IGN.com, GameSpy, GameSpy Arena, FilePlanet, TeamXbox, 3D Gamers, Direct2Drive, GameStats.com and a number of web sites within the Vault and Planet networks. IGN also owns and operates two entertainment web properties focused on movie-related content, IGN FilmForce and Rotten Tomatoes, and a male lifestyle web site, AskMen.com. In addition, it provides technology for online game play in video games.

Said News Corporation chairman and chief executive Rupert Murdoch, "With the acquisition of IGN and its 28 million unique users, we have gone a long way toward achieving two of our key strategic objectives in our efforts to become a leading and profitable Internet presence. First, we have significantly enhanced our online reach, strengthening our position as the fifth most trafficked presence on the web. We also become the fourth largest network in terms of monthly page impressions. And second, we have furthered our strategy to leverage the unique competencies the company enjoys with its news, sports, and entertainment assets to create a leading Internet destination. By acquiring IGN and its compelling sites, we now have top entertainment sites to go along with FOXSports.com, as well as our myriad news sites, headlined by FOXNews.com."

The IGN acquisition cames at a time when Murdoch has summoned his senior most executives for the second web summit in seven months on News Corporation's Internet strategy. The group?s executive committee will meet this weekend near Murdoch?s ranch in California, media reports say. According to the reports, Murdoch said he had earmarked up to $2 billion for Internet acquisitions.

The February summit in New York marked a distinct strategy change for Murdoch, who had not shown much enthusiasm in Internet investments after the late 1990s. He said that media groups had to reinvent themselves to meet the demands of the ?iPod generation?, which was bypassing traditional suppliers by consuming news and entertainment online. Murdoch's strategy was given a boost by the announcement by Prince Alwaleed, who expressed his ?utmost confidence in Murdoch, his management team and his succession planning.?

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/wire.jpg?itok=rcsQVpJx
Eros Now Partners with Celcom; Consolidates Distribution in Malaysia

Eros International Plc (NYSE: EROS) (“Eros”), a leading global company in the Indian film entertainment industry, announced today that Eros Now, its digital over-the-top distribution service

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/v.jpg?itok=sGu6lo2Z
TV Today Network subsidiary receives IT demand notices

TV Today Network Limited (TVTN) has informed the bourses that its wholly owned non-material subsidiary India Today Online Private Limited (ITOPL) has received separate demand notices from the Income Tax department.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/bbc.jpg?itok=qIYwGGq9
BBC Studios India and Mindshare’s I Can You Can wins two Silvers - Best Branded Content and Best Media Strategy at the Emvies 2018

BBC Studios India and Mindshare, India’s largest media agency, announced that it has won two Silvers at EMVIES 2018

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/HOP.jpg?itok=lvLK36Q0
NDTV launches India’s first mobile-only portrait live channel

New Delhi Television Ltd (NDTV) has launched India’s first mobile-only vertical live channel with the name NDTV HOP Live. India has nearly 432 million internet users and this number is growing at a rate of 4-8 per cent, according to Deloitte’s Technology, Media and Telecommunication (TMT)...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/times.jpg?itok=DGAvKOg1
Movies NOW, Romedy NOW and MNX celebrates this festive season with a special programming line-up

Celebrating the spirit of this festive season, Times Network's English Entertainment channels

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/discovery.jpg?itok=6Fa3Bavl
Running Wild with Bear Grylls’ on Discovery channel gets extraordinary traction from advertisers

The premiere of new series Running Wild with Bear Grylls on Discovery and Discovery World HD

Television TV Channels Factual @ Discovery
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/colors.jpg?itok=TXA_pJ9H
Woh Talent Hi Kya Jo Kisi Ke Kaam Na Aaye; COLORS Announces the Launch of India’s Got Talent

Don’t let talent go to waste advocates COLORS’ flagship reality show – Maruti Suzuki Arena presents India’s Got Talent powered by Vaseline and Frooti as it returns to wow viewers with some mind-boggling acts in its eighth edition.

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/Lizol.jpg?itok=lICakAZ0
Lizol tops chart; P&G makes comeback in BARC week 40

The Broadcast Audience Research Council (BARC) India has released its data for last week’s top advertisers and brands between 29 September-5 October 2018. The data is a reflection of top 10 advertiser and brands across genre on Indian television (U+R) : 2+ Individuals.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/pkd.jpg?itok=F8PRMMYX
Star India’s PKL draws higher sponsorship revenues in season 6

The Pro Kabaddi League (PKL) auctions saw six players command over a crore, offering further proof of the property’s rising popularity in terms of viewership and advertising interest. If we look at the viewership, the live telecast of PKL season 5 garnered 1.6 billion impressions with a target...

Television TV Channels Sports

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories